Caterpillar (NYSE:CAT) Price Target Raised to $700.00 at Oppenheimer

Caterpillar (NYSE:CAT) had its target price raised by equities research analysts at Oppenheimer from $645.00 to $700.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would indicate a potential upside of 9.32% from the stock’s current price.

A number of other analysts have also weighed in on the company. Wells Fargo & Company began coverage on Caterpillar in a research note on Thursday, November 13th. They issued an “overweight” rating and a $675.00 target price for the company. Raymond James Financial reiterated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Bank of America raised their price target on shares of Caterpillar from $650.00 to $708.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada assumed coverage on Caterpillar in a research note on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $625.85.

Caterpillar Stock Down 1.0%

CAT opened at $640.34 on Tuesday. The firm has a market cap of $299.67 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.50 and a beta of 1.57. Caterpillar has a twelve month low of $267.30 and a twelve month high of $655.68. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.86 and a current ratio of 1.38. The firm’s 50-day simple moving average is $588.42 and its 200-day simple moving average is $505.37.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Monday, November 3rd. The industrial products company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.43. The company had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $5.17 earnings per share. Equities research analysts anticipate that Caterpillar will post 19.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Kaiser sold 10,707 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the completion of the transaction, the insider directly owned 8,649 shares in the company, valued at approximately $4,874,576.40. The trade was a 55.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony D. Fassino sold 8,184 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $570.18, for a total transaction of $4,666,353.12. Following the sale, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. This represents a 16.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,729 shares of company stock valued at $31,084,308. 0.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Caterpillar

A number of large investors have recently added to or reduced their stakes in the company. Pacific Point Advisors LLC bought a new position in shares of Caterpillar during the 4th quarter worth approximately $579,000. Brighton Jones LLC grew its position in Caterpillar by 51.5% in the fourth quarter. Brighton Jones LLC now owns 7,409 shares of the industrial products company’s stock valued at $2,688,000 after purchasing an additional 2,519 shares in the last quarter. AdvisorNet Financial Inc lifted its position in Caterpillar by 9.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 5,815 shares of the industrial products company’s stock worth $2,258,000 after buying an additional 482 shares in the last quarter. Baring Financial LLC grew its holdings in shares of Caterpillar by 2.5% in the 2nd quarter. Baring Financial LLC now owns 2,722 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 67 shares in the last quarter. Finally, Argentarii LLC boosted its position in Caterpillar by 4.6% during the second quarter. Argentarii LLC now owns 676 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.